HM Payson & Co. Sells 45,966 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on May 3rd, 2023

HM Payson & Co. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,383 shares of the financial services provider’s stock after selling 45,966 shares during the period. HM Payson & Co.’s holdings in JPMorgan Chase & Co. were worth $38,404,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of JPM. Tandem Investment Advisors Inc. boosted its stake in shares of JPMorgan Chase & Co. by 30.4% during the fourth quarter. Tandem Investment Advisors Inc. now owns 3,427 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 798 shares in the last quarter. Cordatus Wealth Management LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $3,353,000. Stevens Capital Management LP bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $13,365,000. Los Angeles Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 54.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 854,940 shares of the financial services provider’s stock valued at $114,647,000 after buying an additional 300,015 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 3.5% during the 4th quarter. Greenwich Wealth Management LLC now owns 12,494 shares of the financial services provider’s stock worth $1,675,000 after acquiring an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JPM. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Oppenheimer raised their target price on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a report on Monday, April 17th. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Finally, Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.00.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $138.92 on Wednesday. The business has a 50 day simple moving average of $134.29 and a 200-day simple moving average of $134.19. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. The company has a market capitalization of $407.24 billion, a P/E ratio of 10.25, a PEG ratio of 1.98 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. During the same quarter last year, the company posted $2.63 earnings per share. The business’s revenue was up 24.8% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 14 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 2.88%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

JPMorgan Chase & Co. Company Profile

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.